Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Progenics Pharmaceuticals, Inc. , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in PGNX.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we has seen 1 estimate moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from 15 cents a share a month ago to its current level of 14 cents.
Also, for the current quarter, Progenics has seen 1 downward estimate revision versus no revisions in the opposite direction, dragging the consensus estimate down to 51 cents a share from 52 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 11.1% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Medical-Generic Drugs industry, you may instead consider a better-ranked stock - Impax Laboratories Inc. . The stock currently holds a Zacks Rank #2 (Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>
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What Falling Estimates & Price Mean for Progenics (PGNX)
Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Progenics Pharmaceuticals, Inc. , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in PGNX.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we has seen 1 estimate moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from 15 cents a share a month ago to its current level of 14 cents.
Also, for the current quarter, Progenics has seen 1 downward estimate revision versus no revisions in the opposite direction, dragging the consensus estimate down to 51 cents a share from 52 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 11.1% in the past month.
PROGENICS PHARM Price and Consensus
PROGENICS PHARM Price and Consensus | PROGENICS PHARM Quote
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Medical-Generic Drugs industry, you may instead consider a better-ranked stock - Impax Laboratories Inc. . The stock currently holds a Zacks Rank #2 (Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>